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Real Estate Contacts, Inc. (REAC)

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Last Post: 5/27/2016 8:15:56 PM - Followers: 228 - Board type: Free - Posts Today: 0
REAC "Real Estate Contacts"  ...  Dilution at its finest! But hey, where's the business? Where's the office? Where are the operations? Shareholders own a "website?" 4 very recent Reverse Splits in its history while imaginary business is conducted
Capital Change=shs decreased by 1 for 1000 split Ex-date=07/02/2014
Capital Change=shs decreased by 1 for 10 split Pay date=01/27/2015
Capital Change=shs decreased by 1 for 100 split. Pay date=06/17/2015
Failed attempt at 4th R/S on 1/19/2016 1 for 10,000
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11114284


FINRA denies 4th Reverse Split for REAC

March 24, 2016

Via Electronic Mail

Robert Deangelis, President, Secretary, Treasurer, and Director

Real Estate Contacts, Inc.

8955 U.S. Highway 301 N

Suite 192

Parrish, FL 34219

 

Cc : Diane Harrison

Harrison Law, P.A.

8955 U . S. Highway 301 N

Suite 203

Parrish, FL 34219

diane@harrisonlawpa.com

 

Re:

Deficiency Notice Pursuant to FINRA Rule 6490

Real Estate Contacts,Inc. (REAC) - Case No. CAS-40066-P5G105

Company-Related Notification Relating to Proposed 1:10,000 Reverse Stock Split

 

 

Dear Mr . Deangelis:

 

Pursuant to FINRA Rule 6490, FINRA's Department of Operation s ("Department8) received your request to process documentation related to the above-referenced Company-Related Act ion for Real Estate Contacts, Inc. ("REAC"). This letter hereby notifies you that pursuant to FINRA Rule 6490(d), the Department has determined that such request is deficient and it is necessary for the protection of investors, the public interest, and to maintain fair and orderly markets that documentation related to the above-referenced Company-Related Action will not be processed.

Specifically , the Department's deficiency determination is based on the following factors:

1.

As set forth in FINRA Rule 6490(d)(3)(3), FINRA has ac t ual knowledge that the issuer, associated persons , officers, directors, transfer agent, legal adviser, promoters or other persons connected t o the issuer or the Securities Exchange Act ("SEA") Rule 10b-17 Action or Other Company-Related Action are t he subject of a pending , adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self­regulatory organi z ation; or a civil or criminal action related to fraud or securities laws violations. Specifically:

·

FINRA has actual knowledge that REAC issued a convertible note to Typenex Co­ Investment, LLC ("Typenex " ) . Based on the Schedule 13G/A f i led with the Securities and Exchange Commission ("SEC") on January 16, 2016 , "reporting person John M. Fife ("Fife") is the sole shareholder of reporting person JFV Holdings, Inc., which is the sole shareholder of reporting person Red Cliffs Investments Inc . , which is the Manager of reporting person Typenex Co-Investment, LLC." "Typenex has rights, under a Convertible Promissory Note, to own an aggregate number of shares of the Issuer's common stock which, except for a contractual cap on the amount of outstanding shares of the Issuer's common stock that Typenex may own, would exceed such a cap. Typenex's ownership cap is 9.99% of the Issuers outstanding shares. Thus, the number of shares of the Issuer's common stock beneficially owned by Typenex as of the date of the SC 13G/A filing was 101,786,834 shares, whichis 9 . 99% of the 1,018,887,234 shares that were outstanding on that date (as reported in the Issuer's Form 10-Q filed on November 16, 2015)."

·

The Securities and Exchange Commission ("Commission") announced, in August 2007, a Final Judgment against Defendants Fife, a Chicago resident, and Clarion Management, LLC ("Clarion").The Final Judgment "permanently restrained and enjoined the defendants from future violations of the Section 1O(b) of the Securities Act of 1934 and Rule 1Ob-5 thereunder; required the Defendants, joi ntly and severally, to pay disgorgement in the amount of $234,399, plus prejudgment interest of $60,584; and additionally ordered Fife to pay a civil penalty of $234,399." The Commission's complaint, filed on January 18, 2007, "alleged that defendants engaged in a fraudulent scheme in 2002 and 2003 to purchase variable annuity contracts issued by the Lincoln NationalLife Insurance Company ("Lincoln " ) for Clarion Capital, LP ("Clarion Capital") in order to engage in market timing for the benefit of Clarion Capital,a now-dissolved Chicago hedge fund formed by Fife for the exclusive purpose of engaging in market timing in international mutual funds available through variable annuities . " According to the complaint, Fife controlled both Clarion and Clarion Capital, and carried out the scheme through Clarion, the hedge fund's general partner and unregistered investment adviser. These tactics included using trusts and limited liability companies as nominee contract owners and beneficiaries to conceal Clarion Capital's financial interest in dozens of variable annuity contracts. The complaint further alleged that, through this deception, Fife and Clarion made hundreds of thousands of dollars in profits for themselves at the expense of the other shareholders in the mutual funds. [(See SEC Litigation Release No. 20250/August 21, 2007 . SEC v. John Fife and Clarion Management, LLC, Civil Action No. 07-CV- 347 (N.D. Ill.)]

The above activity involving Fife, as a convertible note holder of REAC shares in the name of Typenex together with the SEC's 2007 Civil Action, has raised concerns for FINRA regarding the protection of investors and the transparency to the marketplace as it relates to the proposed corporate action request. As such, the Department has deemed REAC's corporate action submission to be deficient under FINRA rule 6490(d)(3)(3).

Your Right to Appeal the Determination

As a result, the Department will cease processing documentation related to such Company­ Related Action and will make no announcement on the Daily List. Unless you request an appeal of the Department's determination in writing within seven (7) calendar days after service of this notice, your request will be closed.

In accordance with the procedures set forth in FINRA Rule 6490, you have the right to appeal the Department's determination by submitting a written Notice of Appeal via facsimile or electronic mail, within seven (7) calendar days after service of this notice. Appeals are considered by a three-member subcommittee ("Subcomm itt ee") comprised of current or former industry members of FINRA's Uniform Practice Code Committee. Please include your Case No. on all submissions. The hearing request must be received by 5:00 pm Eastern Standard Time on March 31, 2016. The Notice of Appeal must be sent to :

FINRA

Operations, 2nd Floor

9509 Key West Avenue

Rockville, MD 20850

Fax: 202-303-3938

E-mail: UPChearings@finra.org and upcc casefili ngs@finra.org

 

Your written Notice of Appeal must be accompanied by proof of payment of the non-refundable Action Determination Appeal Fee of $4,000.00 made payable to FINRA. Payment must be submitted in the following manner within seven (7) calendar days of this notice:

 

Bank Name: Bank of America

Bank Address: 100 West 33rn St. New York, NY 10001

ABA Number: 026009593

Account Name: FINRA Cash Concentration

Account Number: 226005684771

RFB or QBE as follows: CASE CAS-40066-P5G1 D5-Appeal

Swift : BOFAUS3N

 

Your Notice of Appeal must set forth with specificity any and all defenses to the Department's deficiency determina t ion. An appeal to the Subcommittee will operate to stay the processing of the Company-Related Action (i.e., the requested company-related action will not be processed during the period that the Requesting Party's appeal is pend i ng). You may submit any additional supporting written documentation, via facsimile, electronic mail or otherwise, up until the time the appeal is considered by the Subcommittee. The Subcommittee will consider the appeal based solely on the written documents submitted by you and FINRA.

You will be notified of the date scheduled for the appeal. The Subcommittee will render a determination within three (3) business days following the day the appeal is considered by the Subcommittee. The Subcommittee's determination will constitute final action by FINRA.

 

If you fail to file a written request for an appeal within seven (7) calendar days after service of this notice by the Department, along with the required fees, the Department's determination shall constitute final action by FINRA.

 

If you have any questions, please contact FINRA Operations Department at 1-866-776-0800 .


Very truly yours,

PATRICIA CASIMATES

Patricia Casimates

Vice President, FINRA Market Operations

REAC Alrerts shareholders on March 24, 2016 ... "We do not intend to appeal FINRA's decision"

 

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REAC
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REAC News: Amended Quarterly Report (10-q/a) 05/16/2016 05:28:30 PM
REAC News: Quarterly Report (10-q) 05/16/2016 04:17:53 PM
REAC News: Current Report Filing (8-k) 04/28/2016 09:52:07 AM
REAC News: Amended Annual Report (10-k/a) 04/15/2016 09:52:06 AM
REAC News: Annual Report (10-k) 04/14/2016 07:16:03 AM
PostSubject
#18321  Sticky Note What company? There is no company. It's a space1230 10/13/15 04:46:37 PM
#18684   Yeah right trglaa 05/27/16 08:15:56 PM
#18683   Turning it all around....coming soon.... bluehorseshoe44 05/27/16 03:23:30 PM
#18682   Company is ready to turn it around...GO REAC bluehorseshoe44 05/25/16 03:12:36 PM
#18681   this is a POS Masterview 05/25/16 02:58:14 PM
#18680   Get Ready for good news and updates....GO REAC bluehorseshoe44 05/24/16 07:48:03 AM
#18678   LMAO @ REAC. The warnings have been omnipresent waterchaser 05/22/16 10:37:16 PM
#18677   Pennyland....Go REAC $$$$ bluehorseshoe44 05/17/16 10:04:11 AM
#18676   Companies 10Q on its way...Lets go REAC $$$$$$$$$$ bluehorseshoe44 05/16/16 10:27:47 AM
#18675   Good Week coming for REAC $$$$$$$$$$$$ bluehorseshoe44 05/15/16 08:10:29 AM
#18674   Thoughts. I think they will be awarded AnthonySs 05/14/16 06:58:06 PM
#18673   Keeping a good eye on REAC $$$$$$$$$$ bluehorseshoe44 05/13/16 09:36:14 AM
#18672   Possible No Reverse Split.... bluehorseshoe44 05/12/16 09:07:33 AM
#18671   I'm hanging tight just like you Blue jzrawlins 05/11/16 01:17:16 PM
#18670   Good times are coming... bluehorseshoe44 05/11/16 11:48:05 AM
#18669   You could be right..or even better bluehorseshoe44 05/10/16 10:38:11 AM
#18668   REAC 0.0001 - Targets 0.0003 / 0.0004 / 0.001 trader53 05/09/16 04:32:35 PM
#18667   Lets Go REAC $$$$$$$$$$ bluehorseshoe44 05/09/16 09:35:02 AM
#18666   What happened to the bid trglaa 05/06/16 01:45:37 PM
#18665   Come on 2s jzrawlins 05/04/16 02:11:54 PM
#18664   Nice volume today trglaa 05/04/16 01:12:26 PM
#18663   Did antbody see that 10 mill flash? MM mrets123 05/04/16 09:45:48 AM
#18662   Lets Go REAC $$$$$$$$$$ bluehorseshoe44 05/04/16 09:42:43 AM
#18661   Here comes the 2s. mrets123 05/04/16 09:42:29 AM
#18660   Getting more action here. mrets123 05/04/16 09:35:14 AM
#18659   Nice volume today trglaa 05/02/16 03:07:32 PM
#18658   On watch. GMONEY4 05/02/16 12:36:34 PM
#18657   Lets stay positive and have a good day bluehorseshoe44 05/02/16 09:56:15 AM
#18656   Thx mrets123 05/01/16 09:47:40 PM
#18655   http://ih.advfn.com/stock-market/OTCBB/real-estate-contacts-inc-REAC/historical xStockStalkerx 05/01/16 04:35:25 PM
#18654   Going to be a great week...Go REAC $$$$$$$$$$$$$$$$$$$$$$ bluehorseshoe44 05/01/16 01:00:15 PM
#18653   I know on friday volume was 176 mill. mrets123 05/01/16 11:13:03 AM
#18652   @.0001 X .0002 post r/s play , mega M-invest 04/30/16 09:29:12 PM
#18651   Yeah day Traders love this one trglaa 04/30/16 02:21:12 PM
#18650   Looking forward to another good week...Go REAC $$$$$$$$$$ bluehorseshoe44 04/30/16 08:45:09 AM
#18649   Waiting for next week ------- good night M-invest 04/30/16 12:14:05 AM
#18648   Nice close STOCK_MOMO 04/29/16 06:23:22 PM
#18647   I can't wait! I keep making money on jzrawlins 04/29/16 04:09:47 PM
#18646   Bye bye .0001 imo M-invest 04/29/16 03:01:17 PM
#18645   REAC @.0001 M-invest 04/29/16 01:36:57 PM
#18644   .0001 X .0002 moving M-invest 04/29/16 01:14:01 PM
#18643   Lets Go REAC $$$$$$$$$$$$$ bluehorseshoe44 04/29/16 12:19:16 PM
#18642   bids stacking up nicely JsTrades 04/29/16 12:13:17 PM
#18641   Grab your ticket .0002 , next week will M-invest 04/29/16 12:03:59 PM
#18640   I did. That nice even round # with space1230 04/29/16 12:01:11 PM
#18639   one lonely bidder? check again JsTrades 04/29/16 11:57:13 AM
#18638   lol. The pre-trades come thru as "cash." Well space1230 04/29/16 11:54:05 AM
#18637   scooped up the last .0001s let's go! JsTrades 04/29/16 11:32:23 AM
#18636   Lol someone put 50 thousand shares at 10 cent. mrets123 04/29/16 11:24:16 AM
#18635   I won't see anything, I went 0001 to Murray 04/29/16 08:28:38 AM
#18634   Best to you Anthony. Always remember REAC. It's space1230 04/29/16 02:05:32 AM
PostSubject